Living alone in Debt

Alone in debt or partner not aware

Living costs such as rates, rent, electricity, car expenses, home maintenance etc are the same whether you are a couple or single. The only real difference for couples is extra food, clothing and entertainment costs.

Many people face the prospect of living alone at some time in their lives. So it is worth being prepared. Today, more women live alone than at any other time. For some this is by choice but for many, divorce or death of a partner can mean a change to their circumstances. With increased living costs and escalating petrol prices, single men and women relying on the full age pension are struggling to live on benefits

Money Advice Direct Debt advice team has been helping people clear debts for over 15 years. We have the most accomplished team in the country from a variety of debt advice backgrounds. The debt advice team can help clear debts of any amount.

Alone in debt

More people now live alone than ever before, with more than a third of all households expected to be 'solo' by 2021. So what does it mean for the someone in debt? Well Solo living is disproportionately expensive and this has more of an impact on poorer people living alone.

At one end of the spectrum you have richer people who can cushion themselves from the expenses of living alone and are more likely to feel the extra expense is worth it. At the other end of the scale people are severely hit financially. Those in single person households are much more likely to be unemployed or in debt than the rest of the general population.

Elderly people living alone at home

The advice team at Money Advice Direct has identified a number of aspects of the lives of elderly people living alone

It is common in the UK that people aged 75 and over live alone mainly in urban areas, in council, privately rented and sheltered housing. There is severe lack of debt support for elderly people living alone, in fact there is a large number of elderly people who live alone who cannot access debt advice services. This is despite the state social services “home help” service visiting and helping nearly a quarter of those aged 75 and over living alone, on a weekly basis.

In terms of at least one activity of daily living, shopping, those living alone exhibit a higher level of independence than those living with others, but nearly a quarter of those aged 75 and over living alone do rely on someone else entirely to do their shopping for them.

There is a substantial proportion surviving on state pension and, amongst those aged 75 and over living with others, a significant proportion with a degree of debt from credit card, overdraft and store card debt. There was also a high proportion of people unable budget properly. In terms of the current shortage of debt advice services in the UK, there is a community of people living alone in debt.

Debt advice and budgeting tips for those living alone

• Work out a realistic budget and stick to it if you live alone.
• If you live alone Allow for hobbies, sport, entertainment in your budget.
• Make sure you pay essential spending such as council tax, electricity bills, car registration.
• Use surplus cash to reduce your debts. Pay out any non-deductible debt first, such as credit cards, personal loans and home mortgages, as the after-tax cost is usually highest. Any debt should be paid off in order of interest rate, highest to lowest. Please check that you do not incur an early repayment fee, as you may end up costing yourself unnecessary fees.
• Shop with a friend and go halves in the produce. Eating leftovers for four days in a row can become boring, so cook meals such as casseroles and soups that can be frozen.
• Use a “pay as you go” mobile phone plan to make calls to other mobile phones.
• Use low energy light bulbs. If you live alone you will appreciate the saving.
• Wash only full loads of dishes and clothes if you live alone.
• Use a microwave oven instead of a conventional electric range or oven.
• Turn off your computer and monitor when not in use.
• Plug home electronics, such as TVs and VCRs, into power strips and turn power strips off when equipment is not in use.
• Consider taking in a lodger if you live alone as it will reduce debt.

Higher cost of living alone

As rising living costs and the current credit crunch brings the issue of personal debt into sharp focus for millions, the debt advice team are working hard to support those worst affected.

Debt can have a potentially devastating impact on family life especially those on low incomes avoid. Those living alone indebt are ‘entering into cycles of unsustainable debt’. Recent figures from advice team showed that 18 per cent of adults in Britain have £10,000 or more of unsecured debt.

Quote - Meredith Palmers, aged 72 from Wales

"One call to Money Advice Direct gave me renewed hope. I no longer felt alone. ‘Don’t be afraid to seek advice. You are not alone with these wonderful services".

Please also see

• Living alone with Credit Card Debt
• Living alone with Store Card Debt
• Living alone after the death of a partner.
• Alone in debt from a Separation
• Alone in debt from Disability
• Alone with Mail Order Debt
• Alone in debt Pensioners Debt Advice
• Young People in Debt living alone
• Alone Women and Debt

Money Advice Direct advises many people a year on different debt solutions. In every single case we only recommend the least drastic and most effective remedy, based entirely on each person's particular situation.

If you are alone in debt please call the team on 0800 074 6918 for debt advice. You can depend on us to be honest, open and ethical and every solution is suggested without obligation.

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